W. P. Carey Inc.’s CPA:18 Global Acquires Industrial Site And Headquarters In Menomonee Falls, Wisconsin
01/08/2016
The facility, which is 15 miles northwest of Milwaukee, is triple-net leased for 20 years to Arandell Corporation. According to the firm, the property has served as Arandell's corporate headquarters and sole printing facility since 1981. Over the last 35 years, the company has invested in multiple expansions to the facility for its warehousing and printing operations. The facility is currently one of the largest web offset printing and binding facilities in North America. The triple-net lease is for 20 years with annual CPI escalations.
W. P. Carey Vice President Zachary Pasanen commented: "The acquisition of the Arandell facility further demonstrates the strength of our corporate financing expertise and our ability to provide liquidity to privately held companies. In structuring the transaction, we incorporated a per square foot rental rate consistent with the current market while also providing an attractive yield to CPA®:18 – Global. As a result, we were able to achieve our objective of generating solid near-term cash flows while supporting longer-term residual value."
Arandell President and CEO Bradley J. Hoffman added: "We are pleased to have closed this transaction with W. P. Carey. Their financial and real estate expertise enabled us to reach an agreement allowing us to unlock the value of certain assets while maintaining long-term operating control of the facility. Given W. P. Carey's reputation as a well-capitalized, long-term net lease investor with strong experience working with privately owned companies, we viewed CPA®:18 – Global as an ideal partner for monetizing this asset."
Project Announcements
Canfor Expands Fulton, Alabama, Production Operations
04/22/2024
Tucker Door & Trim Plans Henrico County, Virginia, Operations
04/19/2024
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
L3Harris Technologies Expands Orange County, Virginia, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024